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and health care reform was done. when we look at deficit reduction, it's four or five deals, each one in endless, horrible slog through the d.c. marshes. in the second term the two things we are going to see, it does not look like we are going to see much more on jobs. the white house is not fighting hard. they have not made infrastructure a condition of moving forward. we got $600 billion in the fiscal cliff. republicans are going to make a decision to include revenues or whether or not they are going to make a decision that is better to do no more reduction over the second term. if it is what it takes to keep the president from getting more tax revenues. >> let me ask this. what i hear you saying is deficit reduction. it seems as though we have a president who is legitimately a deficit hawk. he believes the deficit is a problem and deficit reduction is a priority. when you look at the approval rate of americans on handling of the economy, it's split half and half with support for the president and 49% versus 48% disapproving. there's a little room to do a big thing. this president i
. >> thank you for your time. >> what will the president tell the country on monday about debt and deficit spending and how we get that under control, ben? >> well, i think that the president will follow precedent when it comes to the inaugural address and lay out a broader vision for are where we take the country in the next four years and to talk about how some of our founding principles and values can drive us through the challenges we continue to face. i think the state of the union address will be more of the agenda, more discussion of how we get it done with congress and enlisting the is support of the american public. >> so nothing on monday about spending then? >> well, i can't specifically say that the remarks aren't totally finalized yet. i think what you will see is the broader vision. the specific agenda will come in the days ahead. there was a statement out of the white house on friday addressing the proposal that the republicans have put on the table right now. it looks like they may be breaking the ice a little bit and not holding the nation's full faith and credit hostage f
reducing the cost of health care, the size of the deficit. the focus, it seemed to me, if there was an overriding theme, it was on equality, including fixing income inequality. how did you see it? >> i mean, the section on deficits, health care, entitlements, was a really fascinating paragraph. it wasn't a very long piece of the speech, but it was on one hand, the pragmatist obama coming out and saying we have to make hard choices on health care, on deficits, but he pivoted hard back to that message of equality that social security, medicare, medicaid are social equalizer and he's going to defend their place in society, and that's a slightly -- he's always said similar things, but the fact that he turned so hard back to a tone of saying i'm going to defend these programs, it led people to believe rightly so that he's going to be coming at the negotiations in the next couple months, maybe even the next four years, driving a harder bargain than he had the last four years on entitlement reform. it upset some deficit hawks, people who are hoping he really takes the reins o
set our country on a path that will allow us to get our debt to g.d.p., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and septemberer all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they allr today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have you nan hit in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do some
isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts and what is included in that very budget. yesterday with the top congress alleaders at his inaugural luncheon president obama called for working together. >> i recognize that democracy is not always easy, and i recognize there are profound differences in this room, but i just want to say thank you for your service, and i want to thank your families for their service, because regardless of our political persuasions and perspectives, i know that all of us serve because we believe that we can make america for future generations. >> reporter: first challenge will be that debt ceiling vote tomorrow the first of many fiscal issues to be tackled in this new term. >> reporter: let the games begin. mike emanuel, thank you very much. what is the likelihood of a senate budget resolution. coming up minutes from now we'll speak to one
checks, balanced deficit reduction, huge majority, even in the republican party. the barrier to progress here in many respects, whether it is deficits, measures to help economy, immigration, gun safety legislation, there's huge support amongst all independents, democrats and republicans throughout the country. the barrier is there's factions here in congress, republicans in congress out of the mainstream. we need to bring the american people to-to-these debates. >> do you need to bring the american people into these debate buys suggesting evil motivation by your opponents? i think that's what -- you know, it's hard to see a president calling you for unity when he is suggesting that people who disagree with him don't disagree with him on policy but because they care more about the nra or they don't care, in the case of the debt ceiling, whether the country falls into recession again? is that the way to go about it? >> the debt ceiling it is truth. think about this, can dirk the first time in our country. >> reminding people president himself, when he was in the senate, voted against the d
s. >> while i'm willing to find middle ground to reduce our deficits, america cannot afford another debate. not paying its bills is irresponsible. it's absurd. republicans in congress have two choices here. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect or ransom in exchange for not crashing the america economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> you know, it looks like republicans are up against another wall. but they're not going to be able to get -- they're not going to be able to get, quite frankly, some things they really want, if they're serious, are important. spending issues. but this is -- he's got them again. >> here's the problem with the republican party being owned by extremists on issues not related to the debt. let me tell you something, the president of the united states, it's laughable that he would talk about republicans not being res
in nearly the past three years, and the whole fiasco added to the deficit. host: after the news conference yesterday, house speaker john boehner responded with this statement -- " what are your thoughts on this? if the debt ceiling negotiable. some quick comments -- remember, you can post your comments on twitter. the first phone call is from maryland, a democratic caller, jill. caller: i don't believe the debt ceiling is negotiable. it is kind of ridiculous that the money is already owed, so why are we not going to pay what is owed to other people? if people have made investments, the bills have to be paid. i find it ridiculous that people in congress don't want to pay what is already owed. it does not make sense. host: here is the wall street journal this morning. caller: well, if you're asking me if that's true, i think there definitely needs to be somewhat of a compromise as far as spending cuts, but that is not an easy issue, because spending cuts mean job losses. it's not an easy thing to say a president will say we will stop paying the bills too. so there has to be compromised rehab
. this would give the right signals on energy sources and use. it could raise money to reduce the deficit, restore our infrastructure, speed and finance conservation. there are a number of other commonsense steps that would make progress on carbon pollution and energy conservation goals more significant. the epa should stop dragging its feet permitting old coal plants to continue to spew forth toxic waste, harming the environment and the health of our citizens. it is past time the clean air act reinforced. make sure there are proper safeguards for the cracking technology. make sure this reservoir of inexpensive gas does not undercut the addition of renewables to our energy portfolio. solar, wind, geothermal. dership on these technologies for a balanced energy portfolio and ultimately to reduce our carbon footprint. at each step, we should be looking to enhance energy conservation, because the cheapest kilowatt hour is one that you don't have to generate. we should have a 10-year glide path in support of renewable energy. the wind energy industry has already signaled its reaccept tift just
holds a hearing on debt and deficit reduction. examining the history of the debt limit, how past congresses have dealt with the him and whether the constitution provides options to the executive branch when the debt limit is reached. the house is expected to vote wednesday on increasing the nation's current debt limit of nearly $16.5 trillion. >> c-span, created by america's cable companies in 1979, brought to you as a public service by your television provider. [applause] >> next, a discussion about gun violence and gun control measures. chicago mayor rahm emanuel was joined by ohio representative stephen latourette at an event hosted by the university of chicago's institute of politics. former nbc nightly news anchor tom brokaw moderated the discussion. it's about an hour and 15 minutes. >> thank you all very much for being here. i've been in this business for a long time, a half a century, and there are occasions in american life when one issue kind of galvanizes the country. and it seems to me that as we begin this year that guns, violence and can their place in american live
agenda, talking about jobs, dealing with the deficit, getting out of afghanistan. imgrapgs. not small goals. what are his chances of getting thinged accomplished? >> i think there's a path on immigration and that would probably be done soonler rather than later. i remember rahm emanuel saying never let a crisis go to waist waste. the republicans have a crisis in terms of attracting hispanic voters. so they need to deal with immigration reform. is prospects for that look very good. you look at the previous president, what tripped them up, you didn't mention lyndon johnson, but his presidency got devoured by the war in vietnam. he had a terrific legislative record. this president is very careful about getting this country involved in another international crisis, war. he's overly cautious and is getting us out of afghanistan, whether that's a good or bad idea. it's coming to an end. he's very much aware of history. i think we can check the box on the personal life. i have confidence he's not going to get in trouble in his personal life. i think the legislative confrontations are the tou
the hard choices to reduce the cost of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. (cheers and applause) >> pelley: we people, the first three words of the pre-amble of the constitution, the president repeated it again and again throughout the speech, a speech about national unity and unity of person. norah o'donnell and john dickerson are down there on the national mall. they've been watching these events unfold all day. john, the president has quite a task ahead of im. how does he proceed politically? >> well, he proceeds the next big moment is the state of the union and that's where he will get even more detailed. as bob mentioned, this did have a state of the union like feel to it as he ticked off those agenda items. but he'll get more specific about agenda items, he'll put pressure on congress and the big thing, though, is while we think about his agenda for the future, he's still dealing with the business of the past an
to see him as the paragon of responsible spending. >> we'll start with the deficit, shrinking more rapidly than at any time since the end of the korean war. in the end of december, we had a deficit for the month of $260 million, not $260 billion, $260 million. which in washington is almost the budget. that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're g
into the deficit and pay off the debt. >> you know what i didn't like today. i thought it was annoying, he may have to slow down social security payments if-- and tell you why, there's never any suggestion maybe congress shouldn't be paid salaries, the senate not be paid salaries, the president not be paid salaries, cut down on air force one. your constituent payment to go home on commercial aircraft, instead stay here and save money on travel and get the job done. there's any discussion of the politicians to take the hit it's the social security recipients. >> he wants to use the military paycheck to try to scare people and hurt the elderly. you don't have to do that, there's revenue to the treasury on a daily basis. the problem is we deficit spend about 3 to 4 billion dollars a day. we collect, we spend about 10 billion a day and that means that we deficit. we have to borrow 3 to 4 billion dollars a day. we spend more than 700 million dollars a day in interest on a national debt. there are lots of things to do. the president has lots of discretion to curb back that spending to make sure that soci
moral and religious deficit in this country plays a big role in these atrocities and in our cultural decline in general. we've got to face that fact. two prominent members of the clergy will face it. and the best path to prosperity is free markets, moral responsibility. i'm larry kudlow. we'll be right back. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, professional financial consultants. it's guidance on your terms, not ours. that's how our system works. e-trade. less for us. more for you. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. [ male announcer ] over a third of a day's fiber. fiber one. >>> get this. >>> get this. four
, immigration reform but there are leftover issues, such as the stubbornly high unemployment, a budget deficit he promised to cut in half by the end of the first term. it is a joyous day for the president but reality will kick in. real fast. chris? >> chris: ed henry reporting from the white house, ed, thanks for that. joining me now is a member of the president's inner circle. senior advisor david plouffe. and, david, welcome back to fox news sunday. >> thanks for having me, chris. >> chris: before we get to the inauguration and the president's second term i want to ask you about this terrorist attack in algeria. what is your latest information on how many americans were taken hostage, what is the status of those americans, and, what does the president think of the way the algerian military handled the situation? >> we have no additional information to report and the state department will do that. this is a reminder countries around the world share a joint threat from the terrorist organization, why we're so active about providing expertise and information and technology, to help them destroy
make the choices to reduce the cost of health care and the size of our deficit. but we reject the belief america must choose between caring for the generation that built this country and investing in the generation that will build its futur future. >> the commits we make with medicare and social security, these things do not sap our nation, they strengthen us. they do not make us a nation of takers, they free us to take the risks that make this country great. >> wow, look at the crowd. this is a full bar the day after all the natural balls. i'm not sure what's going on here. that was president obama yesterday using his second natural address to preview his aggressive agenda with a focus on immigration reform, gay rights and climate control. organizers estimate as many as 1 million people filled the national mall. as the commander in chief exited the stage, he paused to savor the moment. the tradition of natural balls continued into the night. they attended 10 natural balls last night that went quite late and the first lady holding just two, the lowest since the eisenhower admi
invests to see our economy grow. the one silver bullet in deficit reduction is economic growth. we need to get out of this circle we're in right now and start talking about growth. how we start moving the economy forward because we'll never get out of the hole otherwise. melissa: stephen, that is a great point. do you move the economy forward and grow by raising taxes, do you think. >> president obama at one point believed we do not. he argued in twine and 2010 you would hurt economic growth if you raised taxes at time the economy was struggling. that is what he argued at time. melissa: what do you think, steven. raising taxes grows the economy or -- >> no, it does not grow the economy. we have to be serious how much the president contributed to overall debt picture. $6 trillion since he came to office. nearly $20,000 per united states citizen has been added since president obama came into office. so just silly to argue he hasn't contributed. melissa: blame game gets us nowhere because everybody contributed to it. god it is a mess and we have to fix it. when you hear people like nancy p
and deficit. his job legislation proposals are not being well received by republicans. the administration has not proposed any innovative resolution for the severe downturn in housing. and some believe he should have supported and promoted simpson-bowles deficit reduction proposal. he has not been able to significantly expand economic opportunity. how has obama used the tools of leadership? he attempts to communicate his vision and proposals, but he has appeared so often on television that exposure -- overexposure was agree. he's a capable public speaker, but his speech is usually lack the spirit he showed during his first campaign. he seems to lack the dramatic comedic asian skills of fdr, reagan or clinton. obama frequently comes across as a teacher, or as a motivator, not a motivator. he fails then too, frequently to excite and motivate. although he currently isn't doing bad and the current campaign. there's a reason article in a sunday edition of "the new york times" entitled obama plays to win in politics and everything else. the author paints a picture of obama that gives a still greate
, as we mentioned earlier, getting the deficit on a sustainable path, trying to accomplish some of his investment agenda. obviously guns are going to be a part of the agenda. right now the main thing is to kind of stick at that visionary level. >> chuck, the president had a pretty good day for his first term on friday before it even started when republicans said they would break that principle of not raising the debt limit unless they had dollar for dollar spending cuts. tell me what you think that means for the resolution of the debt limit fight, which republicans are going to put that proposal on the floor on wednesday, and the president's prospect for resolving what has looked like an excruciating fight. >> it will certainly give us a nice market backdrop which is a nice thing to start off the administration's second term. i guess add 60% gain in the dow the first three years and 10% in the second -- in the last year, but i think that really what that means is that we have a good start, but it's all designed on the republican side to try to compel the democrats to come forward with
budget laid out a plan how to deal with america's biggest problems, our debt, deficit and ongoing spending. if we don't reform we'll end up bankrupting this country and it is unfair to the next generation not to stop this. it is time for the senate to step up and act. bill: republicans referencing the speech from yesterday with one reference to the deficit. if no debt limit is reached, however, the government could default on its obligations within weeks so watch that story. martha: well, this is an interesting one. pro golfer, phil mickelson, doing a little bit of backpedaling today saying he regrets the public comments he made on the issue of his taxes in california. mickelson said he may move out when he made the original comments, of the state, because all taxes combined end up to more than 60% tax rate. now he is telling fox news contributor jim gray, quote, finances and taxes are a personal matter and i should not have made a opinions of, on them public. i apologize to those who i have upset or insulted and i assure you i intend not to let it happen again. why would he feel
and dignity. we must make the hard choices to reduce the cost of health care and the size of our deficit area but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [cheers] [applause] we remember the lessons of our past. twilight years were spent in poverty and parents of a child with a disability have nowhere to turn. we do not believe that in this country that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, they may face a job loss or sudden illness or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things strengthen us. [cheers] [applause] they do not make us a nation of takers. they free us to take the risks that make this country great. [cheers] [applause] we, the people, still believe that our obligations as americans are not just to ourselves, but to all prosperity we will respond to the
or the highway either. we have a huge spending deficit problem. they were considering for well over a week the notion of just mint inging a trillion dollar c and calling it good. the federal reserve said that's phony. that doesn't work. and the treasury department on saturday said okay, you are right. we won't go that route. we need serious proposals from the president and it is not just the congress. it is -- we got to work together to solve the country's problems. >> let me -- let me split off debt limit here. are you willing to do the debt limit on its own without any -- president say he's not going to negotiate, are you willing to pass a clean debt limit? >> you know, i think passing a clean debt limit is problematic for the american people as well as for the congress and the country. i think that we should find common ground here to look at spending reforms for the long term to gettous a path to reducing debt and deficit. i think we should look at current spending reductions that could take place and in ways we can grow the economy. i would like to see us work together on this matter
several years from 2000, where we had a surplus under president clinton to get to a deficit under president bush. so it will take some time. but i think sequestration is a blunt instrument. it doesn't allow the cabinet secretaries, not just the secretary of defense, but the secretary of every other agency, to make judicious judgments about which programs are higher priority. and we in the congress should be able to make those judgments ourselves, working with the administration. so i don't think it's the right instrument. i think the goal is appropriate, which is to reduce the deficit, do it in a balanced way, and recognize that there are some things that you can do up-front, quickly. there are some things that are best done, sort of, towards the end of the cycle. and the other factor, too, is we can't forget that one of the best anecdotes to a deficit is a strong, growing economy, particularly growing jobs. and so there are things we have to do to grow jobs. >> i think everybody agrees on the jobs front. anyway, senator jack reed, democrat from rhode island, the senior man when i
on long-term deficit reduction, to add muscle to the efforts to bring democrats to the table, they would include a provision in the debt ceiling legislation saying that lawmakers will not be paid if they do not pass a budget blueprint. was it right to step back from challenging the president over raising the debt ceiling? >> well, i think the house proposal is a step in the right direction. no doubt the senate hasn't done it's job. it's been nearly four years since it's passed a budget. but it doesn't go nearly far enough. we have a crisis. i just got back last week from afghanistan. and i had multiple servicemen and women clasp me on the arm and say, please do something about the debt and deficit. we're bankrupting the country. that's what the american people are looking for. and to date, politicians have both parties have been unwilling to take even a tiny step in the right direction. we've got to fix the problem. >> the senate has to pass a budget. do you believe that? >> i do. >> why has it been four years since you've done that? >> well, let me answer this. this was a major victory
to get the deficit down. we're going to do a budget this year and it will have revenues in it and our republican colleagues better get used to that fact. martha: promise, promises right? they will do a budget this year. we haven't seen one in how long? stuart varney the anchor of "varney & company". how many years has it been now? >> i believe it is 3 1/2 years. we go through the tax debate. we thought we got higher taxes on the rich and it was over, not so. senator schumer and fellow democrats are proposing yet higher taxes on the rich, more taxes on oil and gas companies and taxes on profits that american corporations makeover seas. so that is three big areas where taxes are going to go up. all of this we are told is going to be in the new budget which the senate has to pass in about a three-month period. so, here they come, higher taxes. martha: yeah. i mean, stuart, as you point out the argument that is being waged now about really tax rerecall follow was something that conservatives offered the first time around as a good way to sort of change the system and bring in more revenue
, mentioning some of the issues he wants to tackle. gun control, deficit reduction. as you said, waiting on the big details until the state of the union address. neil: you mentioned finding common ground. we may have gotten a hint on that when republicans said they would look at eight debt ceiling it ascension back ago, probably, three months. what do you make of that? don: they would be blamed, roundly, thoroughly if the country went into some kind of default. the strategy, as you have been reporting, has been to try to take this issue off the table and then fight the battle over spending cuts when you have a sequestration cuts scheduled to start march 1. the current resolution running the government also running out into her three months from now. as well as, the debt ceiling having to be raised yet again. republicans hope this is when they will be able to get the leverage to push spending cuts and entitlement reform. neil: you know, peter, what we look at -- how does that decide? there is a protocol. sitting in and around that i see ron emanuel sitting close to president clinton, how
term deficit reduction plan." you will recall that standard & poor's did downgrade the u.s. debt last august after the debt ceiling was raised amidst 11th hour suspense. it was blamed on bringmanship to use the debt creeling to get spending cuts. s&p did cite the melodrama as part of the reason but placed emphasis on the view that the debt ceiling deal fall short in what our view would be necessary to stabilize the government median term debt dynamics. translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exa
programs at a time when everyone in washington is talking about debt and deficits, he threw down the gauntlet and made clear, i won the election, i will stand for these following things. he did not go in great detail. he does that next month. he made clear he is coming out where he is and he will come out swinging and he thinks he will get a lot done. we will see. >>neil: before i leave, much was made that the president has not walked much so far, what do you make of that? compared to last inaugural. >>reporter: he will be making that town as you say at the treasury department in a block or so from where we are right now, at lafayette park. look, they are always careful about not having the president walk too far. based on the cheers he is getting close because people here, outside the white house, they have been waiting if hours, since early this morning, 7:00 or 8:00 a.m. lining up here, so you get the idea after 4:00 p.m. eastern time, folks are cold, folks are tired, they are very excited to see the newly inaugurated president, re-elected president coming out here. as i menti
republicans have never been comfortable with social security and medicare. they use deficits and debt reduction as an excuse to chip away at it. but it is not about deficits and debt. it's about their discomfort with the programs themselves. >> and it's about dealing with the challenges right now. one of the most compelling parts of the speech as i sat there listening and watching is when he said with all of the arguments, we must act now. listen to this. >> progress does not compel us to settle centuries-long debates about the role of government for all time. but it does require us to act in our time. >> act in our time. and not just get in these long unending debates. martin luther king used to call it the paralysis of analysis. >> we may will be coming to the end of one. with medicare and social security and medicaid. what was so striking about the speech yesterday was that obama -- the lack of an olive branch to republicans that we've heard from him before. when you talk about the summer of 2011, he was talking openly about willing potentially to have a deal that included some mod
would be able to reduce the deficit by $150 billion. not a bad idea. and then if you could do all this and would only cost the average driver less than $1 per week per car, would that be a reasonable burden to impose? so i'm floating the idea. we are beginning discussions with senator mark warner of virginia. he was part of the gang of six, gang of eight. we are encouraged by what we're hearing from him. chairman bill shuster in the house came to our meeting in pittsburgh in november, and he said, listen, folks, we know that the central question congress will have to address next year is revenue. we are open to ideas. no guarantee that they can pass anything. but bill shuster is open to any and all ideas. so what i'm asking you to do is to join us in the battle that lies ahead this next couple of years and demand that congress provide long-term funding for transportation. you know, the big issue that every member of congress is concerned about is with deficits, long-term fiscal viability of the country and cutting spending and raising revenue, that combination is what people seem
make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, may face a job loss or a sudden illness, or a home swept away in a terrible storm. the commitments that we make to each other through medicare, medicaid, social security, they do not sapped our initiative, they strengthen us. they do not make us a nation of takers, they free us to take risks to make this country great. host: the top republican in the senate responded to the president's address saying that he congratulated the president on his inauguration and that he wished him well in his duty to lead the u.s. at home and a
house caprettto prioritize the government's bills. guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff d
, is look it would add to the deficit whether you were north of south, it doesn't matter. we have only paid for a small amount in terms of offsets for any of these storms. from 2003 to now, in 2003 we had a rule under different circumstances, we had to find some money or find the revenue to pay for it. >> stephanie: right. >> but this is an emergency. we are 80 days into this now. you know how many homes have been damaged and destroyed? i think it's like close to 350,000 homes. >> stephanie: yeah. >> the power outages in new jersey, two -- over 2.5 million no power. i mean i go down the whole list. >> stephanie: right. and it's winter back east encase encase -- in case people haven't noticed. it used to be we are just americans. but look at yesterday, look at yesterday, when there was a tragedy, we used to try to figure out how we come to the table. literally there are people accusing the president of being like saadam hussein, and using children as human shields. >> yeah, they will stop at nothing. we have more ideologues now in the congress than we had in the 112
to overload the agenda but in addition everything he wants to do and obviously the debt and deficit he will have several battles with congress over that but gun control, he will try to take advantage newtown has happened and perhaps caused a tippingpoint in public attitudes and he will push that very aggressively. shepard: senator chuck schumer, the chairman of joint congressional committee of presidential ceremonies with opening remarks. >> welcome to the capitol and this celebration of our great democracy. now this -- [cheers and applause] this is the 57th inauguration of an american president and no matter how many times one witnesses this event, its simplicity, its inate majesty and most of all its meaning, that say yesterday, yet cautious trusting of power from wee we the people to our chosen leader never fails to make our heart beat faster as it will today with the inauguration of president barack h. obama!. [applause] now we know that we would not be here today were it not for those who stand guard around the world to preserve our freedom. to those in our armed forces, we offer
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